A PRESCRIPTION FOR BLOCKCHAIN 

Jacky Wong, Benjamin Liang, Edward Cao, Kristin Conner 

Blockchain has become one of the newest buzzwords in computer science - but why should 

anyone outside of Silicon Valley care? What Blockchain means for you and your health 

 

 

(From BitCoin News ) 

The main goal of Blockchain technology is to build a more accessible software to                           

authenticate and transact immediately without costly intermediaries. Blockchain can be                   

compared to a Google Document that is shared with multiple people for the purpose of                             

information exchange. If one person makes edits to the Google Doc, the new information can be                               

reviewed by every party who has access to the document. The only remaining document is the                               

current version. This approach differs from the current method for data storage, that allows only                             

one person to edit a document at a time. The current method is similar to sending a Microsoft                                   

Word document back and forth, where only one party edits, saves, and then sends the                             

document to other parties. With this current method, there is a potential for alternate versions                             

to exist.  

 (From https://blockgeeks.com/guides/what-is-blockchain-technology/ ) 

How Does Blockchain Work? Simply Explained in 2 Minutes   

 

Blockchain is a way to store important data (the “block”) in a “decentralized” way (the                             

“chain”) - instead of having one server that can be easily hacked, data is stored across many                                 

different computers (nodes) in a network. When new data or a transaction is added to this                               

network, it must be validated using known algorithms. Then, the transaction is verified and                           

added to a ledger or chain of blocks. This makes the addition permanent. Blockchain technology                             

is used to make data more secure and incorruptible. 

Though commonly applied to the financial world, the “block” doesn’t necessarily have to                         

be Bitcoin! Genetic research has quickly expanded in the past 20 years, and Blockchain                           

presents a permanent record system for medicinal and genomic data that protects intellectual                         

property. “Patent trolls,” for example, are able to obtain broad patents for medical marijuana                           

treatments or other pharmaceuticals, because there is no proof of prior work in the field.                             

Blockchain not only allows researchers to keep track of their progress away from outside eyes,                             

but also preserves a strong record of their work should they need to present it and contest a                                   

patent troll’s claim.  

(From WhiteHouse.gov) 

According to Director of UC Santa Cruz Genomics Institute, David Haussler,                     

Blockchain’s accuracy and security will make genomic research more collaborative and                     

trustworthy. By decentralizing research data from a specific country or big company (which is                           

usually associated with a certain big country), public blockchains would decrease suspicion of                         

motives. Once the data has been plugged into the blockchain, it is very difficult to replace or                                 

change it back. All transactions on a blockchain are cryptographically secured and provide                         

integrity. Therefore, it is very useful in genetic field, which requires high security and reliability.                             

Additionally, because blockchain is inexpensive, it will also open access to less wealthy                         

countries. Power would be distributed more equally in genetics, a field that is sure to keep                               

expanding as it increasingly integrates with the medicines we consume.